Author: David Shepardson
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Ford recalls 198,000 U.S. SUVs due to risk of fire
By David Shepardson WASHINGTON (Reuters) -Ford Motor Co is recalling 198,000 SUVs in the United States to replace the blower motor assembly after reports of 25 fires, it said on Thursday. The recall covers 2015-2017 model year Ford Expedition and Lincoln Navigator vehicles. Ford said it had three reports of fires linked to property damage…
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Boeing makes first 787 Dreamliner delivery since May 2021
By David Shepardson WASHINGTON (Reuters) -Boeing on Wednesday delivered its first 787 Dreamliner since May 2021, a milestone for the planemaker that has faced production problems with its widebody jet. American Airlines said it had taken delivery of its first Boeing 787 Dreamliner since April 2021, sending shares up 4.5%. American Airlines Chief Executive Robert…
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Biden signs bill to boost U.S. chips, compete with China
By David Shepardson and Jeff Mason WASHINGTON (Reuters) -President Joe Biden on Tuesday signed a landmark bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research and to boost efforts to make the United States more competitive with China’s science and technology efforts. “The future is going to be made in America,”…
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U.S. Senate passes bill to boost chip manufacturing, compete with China
By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) – The U.S. Senate on Wednesday passed sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars to weapons and video games. The Senate passed the long-awaited bill by…
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U.S. Energy Department set to loan GM battery joint venture $2.5 billion
By David Shepardson WASHINGTON (Reuters) – The U.S. Energy Department on Monday announced it intends to loan a joint venture of General Motors Co and LG Energy Solution $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities. The conditional commitment for the loan to Ultium Cells LLC for facilities in Ohio,…
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Biden makes push for chips legislation with CEOs meeting
By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) -President Joe Biden met virtually on Monday with the chief executives of Lockheed Martin Corp, Medtronic PLC and Cummins Inc along with labor leaders as part of the administration’s push for legislation to boost the U.S. semiconductor industry. “This is about investing in the United States,” said…
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Boeing, Airbus secure Farnborough orders as sector stabilises
By Tim Hepher and David Shepardson FARNBOROUGH, England (Reuters) – Boeing has been cranking out order announcements at this week’s Farnborough Airshow, restoring momentum to its troubled 737 MAX, while rival Airbus on Wednesday added to its A320neo order book. Boeing has secured over 100 firm orders for the MAX as it still faces big…
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Farnborough slow roasts jet deals in scorching heat
By David Shepardson and Tim Hepher FARNBOROUGH, England (Reuters) -Boeing unveiled orders for dozens of 737 MAX jets on Tuesday as Britain’s Farnborough Airshow, back after a four-year pandemic-induced hiatus, braved the hottest day on UK record. While the second day of one of the industry’s biggest events saw a relatively modest flow of orders,…
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Senate to vote as soon on slimmed-down China chip bill
WASHINGTON • Voting in the Senate on a bill to boost the U.S. semiconductor industry and improve competitiveness with China could begin as early as Tuesday, Senate Majority Leader Chuck Schumer has been telling lawmakers, a source familiar with the issue said on Thursday. The source said the bill would include, at a minimum, billions…
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Lawmakers unveil bill barring U.S. data flows to high-risk countries
WASHINGTON • A bipartisan group of U.S. senators introduced legislation on Thursday that would give the Biden administration the power to block exports of U.S. personal data to countries like China that they say pose national security risks. The bill, co-sponsored by Finance Committee chair Ron Wyden, a Democrat, and Marco Rubio, the top Republican…